UPM Agrees to Buy Germany's Haindl
For $3.13 Billion in Cash and Shares

A WSJ.com News Roundup

Updated May 29, 2001 7:08 p.m. ET

STOCKHOLM -- UPM-Kymmene Corp. said Tuesday it will buy German paper producer G.Haindl'sche Papierfabriken KGaA for 3.64 billion euros ($3.13 billion) in cash and stock, in a deal that will strengthen the Finnish paper company's position in central Europe.

UPM said it would sell two of Haindl's paper mills to Norwegian paper producer Norske Skog...